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MAIN HEADLINES FROM THIS ISSUE:

Raytheon has reached an agreement with Greece’s Defence Ministry to discharge offset commitments under the Offset Benefit Contracts (OBC) scheme. The agreement has the unique distinction of requiring parliamentary approval. The government has tabled Article 30 of the Greek Armed Forces bill….

Saudi Arabia has announced that it will join Turkey in buying Russia’s S-400 surface to air missile system. As part of the agreement Russia will transfer technology and localise the manufacturing and sustainment of the armament systems in the Kingdom. The agreement signals Russia’s growing influence in the Middle East and its willingness to use technology transfer as a magnet. Meanwhile Mohammed bin Salman has launched a major review of all contracts signed or under negotiation with…

A public inquiry is set to begin into Transnet’s R 50bn ($3.8bn) locomotive contract. The contract obliged China South Rail to assemble locomotives in South Africa under a local content and assembly requirement. The locomotives were made in China.

Hungary’s new military development programme is breathing new life into the country’s IP programme. A conference held in Budapest and sponsored by an Emirati company heard that the government would begin approving the country’s ten-year planning cycle known as Zrínyi 2026 later this month. Hungary would then start to draw up detailed programmes for armoured vehicles and… Hungarian industrial participation will be a key requirement.

Fincantieri’s subsidiary, Vard Holdings, has signed a contract with the Australian cruise operator Coral Expeditions to design and build an expedition cruise vessel. Vard has agreed to construct the blocks in Australia. Chairman Dario Deste said that the move will benefit both the Australian defence industry and the oil and gas industry…